If the Federal Reserve is going to keep interest rates low to help prevent a recession and to help grow the economy, then it needs to take one more step to fix the economy: the Fed has to make sure there are low rates for consumers and for businesses to benefit from.

If they really want low rates to help the economy they should slap the banks and credit card companies with limits on credit card interest rates. Allowing banks to still charge 30% or even 15% is sick when other rates are around 2% and CDs pay 1% or less.

If the banks have a problem with consumers who are deep in debt, the solution is not to charge them higher interest -- rather the banks should cut off additional credit, and lower rates so that the debts can be repaid.

We all know that consumers deep in debt will never repay credit card loans with 30% interest rates.

And while low mortgage rates are being quoted, the low rates are meaningless if banks won't lend at those rates. Maybe the banks should be forced to lend out at the low rates every dollar they borrow from the Fed's "discount window."